FASB Adds SAB Topic No. 119 to Codification Topic 326
The FASB has issued Accounting Standards Update (ASU) No. 2020-02, Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to…
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FASB Clarifies the Accounting for Equity Securities, Equity Method Investments, and Certain Derivative Instruments
ASU No. 2016-01 In 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial…
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Accounting Standard Issued on Income Taxes
FASB issues accounting standard on income taxes. This Accounting Standard Update, (ASU) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, is…
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FASB Issues Narrow-Scope Improvements to Credit Losses Standard
FASB issues narrow-scope improvements to credit losses standard. An Accounting Standards Update (ASU) made these improvements that addresses issues raised by stakeholders. These issues were raised during…
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FASB Issues ASU No. 2019-08 to Improve Accounting for Share-Based Payments Made to Customers
The FASB issues ASU No. 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer,…
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FASB Amends the Effective Dates for the CECL, Hedging, Leases and Insurance Standards
The FASB amends the effective dates for the CECL, Hedging, Leases and Insurance Standards, as follows, which are consistent with the related proposed ASUs: –…
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FASB Proposes Debt Guidance
The FASB proposes debt guidance for public comment. This proposal is intended to improve guidance used to determine whether debt should be classified as a current or noncurrent liability…
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FASB Proposes ASU on Long-Duration Contracts
Proposal The FASB proposed an ASU on long-duration contracts today. The FASB issues proposed Accounting Standards Update (ASU) that would grant all insurance companies that issue…
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FASB Proposes to Improve Guidance on Distinguishing Liabilities from Equity
The FASB has issued an exposure draft proposing to improve guidance on distinguishing liabilities from equity, including convertible instruments. Stakeholders are asked to review and provide…
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FASB Votes to Defer the Effective Dates for Recent Accounting Standards
The FASB voted to defer the effective date for several of its recent accounting standards. The FASB voted to adopt a two-bucket approach to stagger…
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